Rochester-based Morgan Management nearly tripled its apartment holdings over the past decade, building a giant rental portfolio of 140 properties across 14 states with more than 34,000 units. But amid a massive mortgage fraud investigation which has already led to two guilty pleas, the company has started to shed properties. Under pressure from creditors who hold about $3 billion in the company’s debt, Morgan is close to transferring the management of nearly its entire portfolio […]
source https://therealdeal.com/2019/05/01/lenders-poised-to-take-over-apartment-empire-amid-massive-mortgage-fraud-probe/
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